Pirelli insists only legal loose ends are preventing the announcement of a new tyre contract with Formula One from 2014 onwards.

Pirelli has supplied tyres to the sport since 2011 and has made clear it is keen to continue under a new contract in the future. It now has deals in place with all the teams and the commercial rights holders of the sport, but is waiting for final approval from the FIA.

Talk that Michelin could come in as a rival candidate for the contract has been played down in recent weeks and Pirelli says it is now just a few formalities preventing the deal being announced.

"We have lots of signatures [on contracts]," Pirelli director of motorsport Paul Hembery said. "There are just a couple of little legal bits that are being tied up. If you put lawyers in a room they always come up with something new. We are working on something going forward, we have agreements with all the teams and the promoter."

The 2014 tyre supplier is supposed to offer up details of next year's tyre specification to the teams by October 1 and Hembery said his company intends to stick to that even if a deal is not yet official.

"We have many contracts in place, we either say no to everybody and send the whole system into default ... but we've had indications that the final pieces of paperwork should be done in the very near future."

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